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The most closely watched measure of expectations for US equities volatility has risen for three days in a row, bouncing back from historic lows.

The CBOE’s market volatility index, better known as the Vix, rose 0.56 point in early trading on Thursday to 10.77, up a full point from Monday when it closed at its lowest level since 1993. The current level still remains very low by historic standards, with the Vix averaging roughly 20 over the past two decades, according to Reuters data.

Low levels of expected Wall Street volatility, coupled with an eerie calm in the markets in recent months, has left some investors feeling queasy. Goldman Sachs, for instance, said on Thursday that there is a “worrisome disconnect” between US policy uncertainty and the muted readings on the Vix.

“With investors focused on the ‘Art of the Possible’ as it relates to Trump’s pro-cyclical agenda, the market is giving a pass on the negative impact policy uncertainty has on corporate spending, M&A and by extension economic activity,” the US investment bank said.

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